Cohen’s $8 Billion Queens Casino Plan Gets Nod from Senate Leader
Posted on: May 20, 2025, 08:43h.
Last updated on: May 21, 2025, 09:59h.
- Momentum building for Metropolitan Park plan
- News arrived a day after Wynn bowed out of NYC casino competition
While other contenders are dropping out of the New York City casino fray, an $8 billion proposal to bring a gaming venue to Queens is gaining momentum.
On Tuesday, Senate Deputy Majority Leader Michael Gianaris said he will back legislation that, if signed into law, would strip Willets Point of its parkland designation. That would allow New York Mets owner Steve Cohen and gaming partner Hard Rock International to bid for one of three downstate casino licenses expected to be awarded later this year.
Gianaris’ backing of the bill, which was filed in late March by State Sen. John Liu (D-Bayside), is pertinent not only because he holds a leadership position, but also because his district includes western Queens — an area that could derive benefit from Metropolitan Park. Last week, the New York State Assembly easily passed a bill proposed by Assemblywoman Larinda Hooks (D-Queens) “to discontinue the use as parkland and alienate certain land within Flushing Meadows Corona Park.”
Earlier on Tuesday, Senate Democrats met to discuss the Liu bill, but Gianaris stopped short of saying whether or not the votes are there to advance the legislation. He also made clear that legislators aren’t formally approving Metropolitan Park. They’re merely mulling legislation that would allow Cohen and Hard Rock to participate in the bidding process.
Good Timing for Queens Casino Push
In what appears to be a coincidence and good timing, the comments from Gianaris were delivered a day after Wynn Resorts said it’s dropping out of the New York City casino race, marking the third such move in about a month from various contenders.
A field that was previously populated by 11 bidders is now down to eight with five weeks left before the submission deadline for applications. With each party that drops out, the remainders see their odds of success shorten.
Potentially working in favor of Metropolitan Park is increasing scuttlebutt that Manhattan won’t be home to any of the three downstate casinos. That might explain why Wynn dropped its pursuit of a license and it might also explain why rapper Jay-Z was recently in Albany appealing to lawmakers regarding the Times Square casino plan.
The entertainment mogul and musician is part of the Caesars Entertainment/SL Green consortium that wants to bring a gaming venue to the theater district — a plan that has been with plenty of opposition.
Queens Casino Plan a Lazarus Act
Should Cohen and Hard Rock win one of the three downstate permits, it could represent one of the most interesting gaming industry redemption stories in recent memory.
Just a year ago, the Metropolitan Park plan was described as being on life support after State Sen. Jessica Ramos (D-Queens) refused to propose parkland alienation legislation. She also held a series of town halls at which she claimed constituents told her they opposed the gaming project.
Fast-forward a year and it now appears that not only have Cohen and Hard Rock solved the parkland designation issue, but they’re also benefiting as rivals abandon New York City casino plans.
Last Comments ( 2 )
This whole process has been rigged since day one to favor Steve Cohen. This race is already over. There will be two casinos in Queens (Aqueduct and CitiField) which will have a combined 4,300 hotel rooms. Since Hard Rock has the better location with CitiField, they will fill more of those 2,300 rooms and Resorts World at the Aqueduct will struggle to bring in enough people to fill their 2,000 hotel rooms. Remember, not enough people will want to stay in Queens to be able to fill 4,300 hotel rooms. Hard Rock will cannibalize Resorts World, meaning Hard Rock will make money as it has a better location than Resorts World which will lose money because people will prefer to stay at Hard Rock which will have easier access to Manhattan. Lastly, MGM Empire City in Yonkers will get a license even though it won’t have hotel space. But then again, no one wants to stay in Yonkers. Between these three, Hard Rock will perform best, but Resorts World New York and MGM Empire City will struggle. New York will not bring in anywhere near the kind of revenue Las Vegas does. Heck, it probably won’t make as much as Singapore does. Manhattan is where people want to be, not Queens or Yonkers. But this process is rigged to favor Cohen.
It would be wonderful to see how much was spent on lobbying and where that money ended up in the end. What promises were made, whose spouses or family members will be compensated through consulting gigs or support services. Just some random sensible thoughts I have had.